HOUSTON — JLL Capital Markets has arranged financing for Hanover Autry Park and Hanover Parkview, two communities located in Houston. JLL represented the borrowers, Hanover Co. and Lionstone Investments, to secure the five-year, fixed-rate loans from accounts managed by KKR. The borrowers will use the funds to refinance their existing construction loans that JLL sourced in 2019. Cortney Cole, Colby Mueck, Laura Brown, Davis Burnett and Scot Sarlin led the JLL Capital Markets Debt Advisory team.
Hanover Autry Park is a 23-story high-rise community located at 811 Buffalo Park Drive. The property offers 324 units, as well as approximately 23,000 square feet of ground floor retail space. Hanover Parkview, located at 3737 Cogdell Street, features 421 apartments. The mid-rise building also includes 24,000 square feet of ground floor retail.
Both properties were completed in 2022 and offer amenities such as pools, outdoor grilling areas, social lounges with entertainment kitchens, fitness centers and rooftop lounges with indoor/outdoor bars. The properties were 92 and 95 percent occupied, respectively, at the time of the closings of the loans.